Stowe Pharr Mills Employee Benefit Trust

Organization Overview

Stowe Pharr Mills Employee Benefit Trust is located in Mcadenville, NC. The organization was established in 1976. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Stowe Pharr Mills Employee Benefit Trust is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.

For the year ending 12/2022, Stowe Pharr Mills Employee Benefit Trust generated $2.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (25.9%) each year. All expenses for the organization totaled $2.5m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (25.9%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THIS EMPLOYEE BENEFIT TRUST PROVIDES MEDICAL, LIFE, DENTAL, AND DISABILITY BENEFITS TO MEMBERS OF THE SPONSORING COMPANY EMPLOYEES AND RETIREES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

BENEFITS PAID TO OR FOR MEMBERS HEALTH, LIFE, DENTAL, SHORT TERM DISABILITY, AND AD&D PROGRAMS PROVIDED TO PARTICIPANTS OF THE PHARR YARNS EMPLOYEE BENEFIT TRUST.


INSURANCE PREMIUMS FOR INSURANCE COVERAGE WAS OBTAINED TO PROVIDE CERTAIN HEALTH, LIFE, DENTAL, SHORT TERM DISABILITY, AND AD&D BENEFITS.


PREMIUMS FOR HMO AND POS: PREMIUMS WERE PAID FOR PARTICIPANT'S MEMBERSHIP IN A FULLY INSURED HEALTH MAINTENANCE ORGANIZATION OR POINT OF SERVICE PLAN.


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Board, Officers & Key Employees

Name (title)Compensation
Frederick Erickson
Trustee
$0
William P Carstarphen
Trustee
$0
Gregory Peeler
Trustee
$0
Christy Gliddon
Trustee
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$2,442,350
Investment income $7,806
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $2,450,156

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